Looking for a summer beach read? Better head to Borders while you can.

Today — five months after declaring bankruptcy, and after 40 years in business — the national book chain launched a going-out-of-business sale, with steep discounts on books and other merchandise in all of its 399 retail stores, Reuters reports.

The ripple effects of Borders' closure will be felt nationwide. It will be felt by the nearly 11,000 Borders employees who stand to lose their jobs. It will be felt by the classical music industry, for which Borders was still an important way to reach fans. It will also be felt in the market for commercial real estate, as 6.5 million square feet of retail space go vacant.

In this economy, the news of so many more lost jobs lands like acid on an open wound. And at least for this writer, working proudly in a sister industry, the news of a media company that stumbled on the road from print to digital can't fail to sting.

As an avid reader and longtime customer, I'm taking a moment to mourn Borders' passing today — and to put my rewards card to use one last time.